August 6, 2014
Austin, Texas—Interest rates on new credit card offers held firm this week, according to the CreditCards.com Weekly Credit Card Rate Report.The average is comprised of 100 of the most popular credit cards in the country, including cards from dozens of leading U.S. issuers and representing every card category. Introductory (teaser) rates are not included in the calculation.
Rates for card categories tracked by CreditCards.com are listed below:
|Credit Card Rate Averages|
|Avg. APR||Last Week||6 Months ago|
The national average annual percentage rate (APR) remained stuck at 15.03 percent Wednesday for the fifth consecutive week.
Most issuers left credit card terms alone this week. The sporting goods store Cabela's fine-tuned the APR on the Cabela's Club Visa by .01 percent. But the change was so small, it didn't affect the national average.
Unlike most U.S. credit cards, the Cabela's Club Visa is tied to the 1-month Libor rate, which increased this week from 0.15 percent to 0.16 percent. As a result, the APR on the Cabela's Club Visa inched up as well.
Frequent Cabela's shoppers who apply for the store card will now be offered an APR as low as 15.15 percent for non-store purchases or as high as 21.15 percent.The CreditCards.com credit card rate survey (permalink: https://www.creditcards.com/rate-report) is conducted weekly, using offer data from the leading U.S. card issuers' websites. Introductory offer periods and regular interest rates will vary with applicants' credit quality and issuer risk-based pricing policies.
CreditCards.com is the leading online credit card marketplace connecting consumers with multiple credit card issuers, including a majority of the 10 largest in the United States, based on credit card transaction volume. CreditCards.com, https://www.creditcards.com, enables consumers to search for, compare and apply for credit cards and offers credit card issuers an online channel to acquire qualified applicants.
For more information, contact:
Senior Industry Analyst
512-996-8663, ext. 103
NOTE TO EDITORS: The information contained in this release is available for print or broadcast with attribution to CreditCards.com.